Sterling has broken out across the board to new highs in an amazing display of strength. Last week’s BoE decision to keep monetary policy unchanged was a huge boost for sterling. It was also the last BoE meeting under Governor Mervyn King. King has drawn criticism from many market participants especially since the dawn of the 2008 financial crisis. The irony, however, is that the UK economy may be enjoying a recovery just as he retires and steps down.
- Sir Mervyn King holds final policy meeting at Bank of England (London Evening Standard)
- Home sales hit three-year high as housing revival continues (The Telegraph)
- UK economy suddenly sterling (Forex Live)
- UK in growth mode as recovery gathers pace, says OECD (The Telegraph)
- Has the Bank of England loan scheme failed? (BBC)
- The Big FX Unwind: Drivers & Strategies – Nomura (eFxnews)
- GBPAUD – WEEKLY – TREND CHANNEL (Forextrading.tv)